1A plan to increase turnover in the Baltics to over EUR 100 mln in 2 years

1A group of online stores is planning to increase its annual turnover in the Baltic countries to over EUR 100 million in the next two years, the company's representatives told LETA.

"The overall positive economic situation and increasing popularity of
e-commerce have made it possible for us to set the ambitious goal of exceeding
EUR 100 million in the Baltics in two years," said 1A board member Mareks Zuika,
adding that the plan was based on new product categories - furniture, clothing,
footwear and others, as well as development of logistics and increasing speed
of service.

According to preliminary data, 1A
companies' turnover in the Baltic countries last year amounted to EUR 60
million, a 35% increase on 2016. The Latvian 1A online store turned over EUR 41 million, an increase of
approximately 30%, Estonia's 1A.ee
turnover was EUR 10 million and Lithuania's 1A.lt
EUR 9 million - each about 40% higher than in 2016.

The most popular products bought at 1A
include smartphones, computer hardware, perfumes and cosmetics, home
appliances, toys, sports products.

Commenting on 1A group's
performance in 2017, Zuika said that the company had also been investing in
growth, productivity, and service improvements. "Increasingly more people
prefer shopping online as they appreciate the online store's functionality,
image, and reliability. We believe that a successful business and customers'
loyalty depend on three key aspects - speed, convenience, and good service, and
these are the aspects that we're working on, on a daily basis," said
Zuika.

1A.lv belongs to
company Mobilukss that has a share
capital of EUR 110,000. The owners of Mobilukss
are Zuika (55%), the company's CEO Genadijs
Skrinniks (25%), and Kaspars Polis
(20%).

EU economy’s future: slow but positive growthGrowth in all EU states will continue in 2019-20, though at a slower pace than before. The largest EU’s economies will grow at around 1,5-1,7%, mostly in Poland, Spain and Holland. The Baltic States’ growth will continue to be on the positive trend.